What are credit checks / credit reports?
Much like your local bank would assess a loan or a mortgage, AYOM can perform credit checks to generate reports on individuals and businesses. This will assess their current ability to pay any outstanding debt.
Often there is a "can't or won't" pay attitude from debtors. Credit reports are a useful indicator of the debtor’s ability to afford repayments; or if they require an alternative payment strategy.
If a business or individual is financially unstable do not worry; you can still recover your debt. In the event of poor credit an affordable and timely repayment package can be sought, keeping all parties satisfied.
What can we do for you?
Alongside gaining an understanding of the debtors' financial situation, credit checks also help locate contact information. Having up to date, correct, relevant information makes the collection process much simpler, ensuring the debtor can be found and spoken to quickly.
A credit check with us generates a credit report which you can access. This report allows you to see the financial health of a person or business. It includes valuable data including:
- Credit score
- Duration of trade (how long the company has been trading)
- Director(s)
- Turnover
- Profits
- Assets
- Debt payment history
- Shared capital
- Any County Court Judgments (CCJs) in place
- Current insolvency status
The credit report can be used in one of two ways. Firstly, it can be tool for us to chase your debt. By using the report we have a full data set which can help guide our actions when contacting the debtor. Credit reporting is included in our recovery packages at no extra charge.
Secondly it can be the very same tool but for your use if you want to chase the debt yourself. Some may prefer chase their own debts and have multiple debts to chase at once. If you would like a number of credit checks/reports to assist with recovery, Are You Owed Money has the best tools for the job.
We also offer a discount to traders or businesses who wish to conduct regular credit reports with us. Call 0800 130 3357 to speak to our team if this is something you'd like to discuss.
Why AYOM?
Are You Owed Money have a professional, experienced team offering expert advice about collecting your debts.
The combination of an experienced collections team, legal support, case handlers and a proven collection strategy brings together a service you can rely on, all this alongside a superior client portal which allows you to track your case from beginning to end.
Our processes are user friendly and clear. When it comes to credit checking and credit reporting, you'll be hard pressed to find a more reputable, convenient service than Are You Owed Money. We take pride in giving you excellent, up to date information you can use to fully assess your debtors.
Get in Touch
If you have any questions about our credit reporting services you can call us Monday-Thursday 9am-5.15pm and Friday 9am-4pm on 0800 130 3357 or by filling in our enquiry form here.
Alternatively you can get in contact by emailing enquiries@ayom.co.uk and one of the team will get in touch with you as soon as possible. We look forward to hearing from you.